FirstEnergy Corporation $FE Shares Bought by AdvisorNet Financial Inc

Key Points

• AdvisorNet Financial Inc increased its holdings in FirstEnergy Corporation by 40% during the second quarter, now owning 23,864 shares worth approximately $961,000.
• The stock currently has a market cap of $25.25 billion and reported a quarterly earnings of $0.52 EPS, which surpassed analysts' expectations of $0.50 EPS.
• FirstEnergy recently announced a quarterly dividend of $0.445 per share, translating to an annualized dividend of $1.78 and a yield of 4.1%.

AdvisorNet Financial Inc raised its position in FirstEnergy Corporation (NYSE:FE - Free Report) by 40.0% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 23,864 shares of the utilities provider's stock after buying an additional 6,816 shares during the period. AdvisorNet Financial Inc's holdings in FirstEnergy were worth $961,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Dakota Wealth Management boosted its holdings in FirstEnergy by 3.4% in the 1st quarter. Dakota Wealth Management now owns 7,633 shares of the utilities provider's stock worth $309,000 after buying an additional 249 shares during the last quarter. Kovitz Investment Group Partners LLC boosted its holdings in FirstEnergy by 2.4% in the 1st quarter. Kovitz Investment Group Partners LLC now owns 10,807 shares of the utilities provider's stock worth $437,000 after buying an additional 255 shares during the last quarter. Equitable Trust Co. boosted its holdings in FirstEnergy by 1.2% in the 1st quarter. Equitable Trust Co. now owns 22,677 shares of the utilities provider's stock worth $917,000 after buying an additional 266 shares during the last quarter. Firethorn Wealth Partners LLC boosted its holdings in FirstEnergy by 5.5% in the 1st quarter. Firethorn Wealth Partners LLC now owns 5,492 shares of the utilities provider's stock worth $222,000 after buying an additional 287 shares during the last quarter. Finally, Tranquility Partners LLC boosted its holdings in FirstEnergy by 1.7% in the 1st quarter. Tranquility Partners LLC now owns 18,159 shares of the utilities provider's stock worth $734,000 after buying an additional 297 shares during the last quarter. 89.41% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Mizuho lifted their price objective on FirstEnergy from $43.00 to $45.00 and gave the stock a "neutral" rating in a report on Friday, August 1st. Morgan Stanley restated an "overweight" rating on shares of FirstEnergy in a report on Thursday, August 21st. KeyCorp restated an "overweight" rating and set a $46.00 target price (down from $47.00) on shares of FirstEnergy in a report on Wednesday, July 16th. Barclays upgraded FirstEnergy from an "equal weight" rating to an "overweight" rating and boosted their target price for the stock from $43.00 to $49.00 in a report on Monday, August 25th. Finally, UBS Group set a $44.00 target price on FirstEnergy and gave the stock a "neutral" rating in a report on Tuesday, June 24th. Six investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $46.00.

FirstEnergy Stock Up 0.9%

FE stock opened at $43.73 on Wednesday. The firm has a market cap of $25.25 billion, a PE ratio of 19.35, a PEG ratio of 2.66 and a beta of 0.50. The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.51 and a current ratio of 0.61. The firm's 50 day moving average price is $42.98 and its 200-day moving average price is $41.53. FirstEnergy Corporation has a one year low of $37.58 and a one year high of $44.58.

FirstEnergy (NYSE:FE - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The utilities provider reported $0.52 EPS for the quarter, beating the consensus estimate of $0.50 by $0.02. The firm had revenue of $3.40 billion for the quarter, compared to analyst estimates of $3.45 billion. FirstEnergy had a net margin of 9.31% and a return on equity of 11.31%. During the same quarter in the previous year, the company earned $0.56 EPS. FirstEnergy has set its FY 2025 guidance at 2.400-2.600 EPS. On average, equities research analysts anticipate that FirstEnergy Corporation will post 2.66 EPS for the current year.

FirstEnergy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Friday, November 7th will be given a dividend of $0.445 per share. This represents a $1.78 annualized dividend and a dividend yield of 4.1%. FirstEnergy's payout ratio is presently 78.76%.

FirstEnergy Profile

FirstEnergy Corp., through its subsidiaries, generates, transmits, and distributes electricity in the United States. It operates through Regulated Distribution and Regulated Transmission segments. The company owns and operates coal-fired, nuclear, hydroelectric, wind, and solar power generating facilities.

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